Full and Partial Cash-In Form

Transcription

1 Full and Partial Cash-In Form Full and Partial Cash-In Form Please use black ink and write in CAPITAL LETTERS or tick as appropriate. Any corrections must be initialled. Please do not use correction fluid as this will invalidate your withdrawal request. About This this form Form If you want a full or partial withdrawal of this plan please call us on: or , if phoning from abroad. Our lines are open between 8am to 6pm Monday to Friday. We might be able to process your request over the telephone. We will advise you on the telephone if we need you to complete this form. If you ve already spoken to us and we ve advised you to complete this form, please proceed. This form must be completed by the legal owner(s) of the bond or plan. If the present owner is not the original owner and we have not previously been informed of the change in ownership, please send the deeds or other documents that prove ownership (e.g. Deed of assignment). Before completing this form please read Section 5 Important information. This form can be used for one of the following four Options: Option 1: Partial cash-in equally across all policies within the bond/plan Option 2: Fully cash-in individual policies and partial cash-in of the remainder Option 3: Fully cash-in individual policies within the bond/plan Option 4: Fully cash-in all policies within the bond/plan Note: this cash-in form cannot be used for PruFund Investment Plan. Please forward the completed form to: Prudential, Lancing BN15 8GB Section 1 Personal details Policy number(s) On the life/lives of Policy owner(s) Your (policy owner) daytime telephone number including the standard dialling code (This is required in case we need to contact you regarding this request). Page 1 of 6

2 Section 2 Withdrawal options You must only complete ONE option Please select one of the following four options. Note: once we have carried out your request we are unable to reverse it. Option 1: Partial cash-in equally across all policies within the bond/plan For any partial cash-in from a plan invested in a PruFund Fund please see note 5 in Section 5 Important information. Take a partial cash-in sum of withdrawn equally across all policies within the bond or plan. Please note, where units are held in more than one fund, units will be cancelled in proportion to the value of each fund unless you state otherwise using the boxes below. If units are not to be cancelled proportionately from all funds held enter the name of the fund(s) and the percentage or value of the withdrawal you would like to take from the fund(s). Where 'value' ( ) is selected, the amount taken from the fund may differ slightly from the amount requested due to rounding. either/or Fund Fund Fund Fund With Reference to Options 2 and 3 This Payment investment by cheque will usually will normally be issued takeas a number longer to of credit separate an identical account than policies the (individual recommended segments) Direct within Credit a method. bond/plan. For Option 2, Prudential will automatically fully cash-in the maximum number of policies (individual segments). Option 2: Fully cash-in individual policies (segments) and partial cash-in of the remainder Fully cash-in individual policies (segments) within a bond or plan and partial cash-in taken equally from the remaining policies to achieve a cash-in amount of: Option 3: Fully cash-in individual policies (segments) within the bond/plan Fully cash-in this number of individual policies (segments): Number of policies Option 4: Fully cash-in all policies within the bond/plan Fully cash-in the above mentioned bond/plan Please tick Page 2 of 6

3 Section 3 Bank/Building Society payment details This information must be provided before payment can be made. If more than one payee, the address, including postcode, of each payee is required. Direct credit is the recommended method of payment. A written statement will be issued to you immediately following the transaction to confirm the exact value paid. We may not require evidence of your identity to satisfy our regulatory requirements if: you provide account details that either the original investment was made from, or an account that we have made payments into previously. Cheque payable to the policyholders(s), solicitors, financial adviser or recognised financial institutions: Please complete these cheque payment details if you would like payment to be made by cheque to the policyholder(s), a client money account of a solicitor, financial adviser or paid to a recognised financial institution. Please note payments cannot be made to third parties (except Financial Adviser client accounts and recognised financial institutions). Payee details Full name of payee(s) (please provide name of company if applicable) Full address of payee(s) including postcode Please be careful when providing your bank details. If you enter the wrong details your payment might be delayed, or credited to the wrong account, and may result in a financial loss. By direct credit to the originating account or my/our Bank/Building Society account, please detail below: of Bank/Building Society of bank or Building Society Account holder(s) name(s) By cheque payable to and sent to (address) Identification requirements Sort code Account number Roll number (if applicable) We must check the identity of customers to comply with our regulatory requirements. These regulations help to prevent criminals using financial products and services to launder money. They also protect you from criminals who might try to use your identity. By us carrying out checks and you giving us proof of identification we re helping to stop them. If you provide account details that either the original investment was made from, or an account we have made payments into previously, we may not require evidence of your identity. If we are not familiar with the account details you provide, we may issue a cheque payment, or we may contact you to verify these, or ask you to provide identity documentation. You may want to send us identity documents with the claim form to speed up the process. We need one item from Group A and one item from Group B below for each owner. If you are unable to provide any of these documents please telephone us to discuss alternatives. Group A Evidence of full name and either address or date of birth A clear copy of a valid signed passport. A clear copy of a valid photo card driving licence (full or provisional)/ Valid old style full UK driving licence. Group B Evidence of full name and current home address A clear copy of a current* utility bill or evidence that shows current address (bank statement, solicitors letter, council tax bill, mortgage statement). To satisfy our regulators, we cannot accept online utility bills/ bank statements. *Definition of current, would be within the last six months. Page 3 of 6

4 Section 4 Payment declaration If we receive all the relevant completed paperwork by mid-day on a working day, we'll normally process it at the price determined later that day; if we receive it after mid-day, we'll normally process it at the price determined on the next working day. A working day is any day that the London Stock Exchange is open for dealings, and, at our discretion, any day on which it would normally be open but for a temporary closure. Please refer to note 5 in Section 5 Important information. Additional units may be cashed to meet any charges. Please refer to note 2 in Section 5 Important information. Please complete this form in full to avoid any delays in processing this request. The payment will be sent to you within 5 working days of receipt of this completed form. Please allow a further 3 to 5 working days for the money to clear your account. Cheques are released 2 working days after the initial processing. Please note that this timescale may be subject to change. Declaration > I/we confirm that I/we have read and understood Section 5 Important Information. > I/we understand how charges may apply to the requested withdrawal. > I/we understand that I/we may be liable to a tax charge if I/we pay income tax above the basic rate, or if the gain results in me/us paying income tax above the basic rate. I/we also understand that any entitlement to Higher personal allowance (age allowance) may be reduced. > I/we authorise Prudential to make payment as shown in Sections 2 and 3 of this form. This request must be signed by all the policy owners. If the policy is in trust all the additional trustees must sign also. It is a criminal offence to knowingly provide false, misleading information and/or forged documents, signatures for the purpose/intention of committing fraud and this will result in prosecution. > If this policy is part of a Discounted Gift Trust arrangement, please ALSO read and complete the following requirement: We (the trustees) have read and understood section 2.4 (for discretionary and absolute trusts) and 2.5 (for discretionary trust only) of the trust provisions. Also where appropriate we have taken relevant advice and wish to continue with the claim. Please tick to confirm. The owner(s) must sign here. If a bond or plan is subject to trust, all trustees must sign. If further signatures are required, please provide them on a separate sheet of paper and attach it to this form. Please send this form to Prudential Customer Services, Lancing BN15 8GB. Page 4 of 6

5 Section 5 Important information 1. Taxation Any cash-in/withdrawal from this Bond/Plan (in full or in part), may produce a chargeable event gain, which may result in a liability to income tax above the basic rate and/or may affect any entitlement to personal allowances (including higher age personal allowances for those aged 65 and over). Where a partial cash-in, together with any earlier cash-ins (including regular withdrawals and any ongoing adviser charges) exceeds the annual tax deferred allowance (5 each year {cumulative} of the total amount invested), there will be a chargeable event gain, in which case it may be advantageous to fully cash-in some of the individual policies (segments), if by doing so, the chargeable event gain will be reduced. This information is based on our understanding as at June 2017, of current taxation, legislation and HM Revenue and Customs practice, all of which are liable to change without notice. The impact of taxation (and any tax relief(s)) depends on individual circumstances. Further information is available in our Guide to tax on your investment leaflet, which you can request by calling or visiting ( 2. Charges Cash-in charges may be imposed on partial or full cash-ins, in accordance with the Policy provisions and as explained in the product literature when the policy was taken out. For partial cash-ins the monetary amount of the payment will be as requested but additional units will be cancelled to meet any charges due. Please note: Cash in charges do not apply to regular withdrawals. If you require more information regarding your withdrawal options and how cash-in charges are applied, please refer to your key features document. 3. Plans/Bonds invested in a With-Profits Fund A market value reduction (MVR) may be applied to reduce the value of a full withdrawal. Where a partial withdrawal is required, the MVR if applicable would increase the number of units cancelled to provide the requested withdrawal payment. Whether a MVR will apply on the day the withdrawal is processed cannot be predicted and we are unable to hold a request for a withdrawal which is conditional on whether a MVR applies or not. For an explanation of the market value reduction, please refer to the key features document which you received with your policy documents. 4. Reduction in Benefits Where applicable to your plan/bond, a partial cash-in may affect the following benefits: > Annual growth reward > Guaranteed minimum death benefit > Guaranteed minimum fund value Please refer to your key features document 5. Possible delays in cancelling units (PruFund Funds) For any partial or full encashment involving a PruFund Fund, in exceptional circumstances we may delay cancelling units for a period of 28 days refer to your key features document for details. Where a 28 day notice period is to apply Prudential will contact you accordingly. In the event your encashment instruction also includes any other fund(s), when contacting you we shall also obtain instructions from you on how the other fund(s) not subject to a 28 day notice period, are to be processed. Once a partial or full encashment instruction involving a PruFund Fund, is received by Prudential, and the 28 day notice applies, this instruction can not be subsequently cancelled or replaced with revised instructions. (Other funds) In exceptional circumstances we may delay cancelling units in any fund by up to one month (6 months in the case of the Property Fund or any funds that invest in buildings or land) from the date we receive your instruction. 6. Any part withdrawals taken will reduce the value of your bond/plan. If the withdrawals including any ongoing and ad hoc adviser charges are more than any overall growth achieved the value of your plan will reduce below the level of capital invested. Full terms and conditions of Prudential s bonds and plans are available from: Prudential, Prubond Claims and Servicing, Lancing BN15 8GB. Page 5 of 6

6 "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is also used by other companies within the Prudential Group, Registered Office at Laurence Pountney Hill, London EC4R 0HH. Registered number Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. DISF /2017 Page 6 of 6